Bassett Announces New Division to Expand Club Level Product Line
July 19 2017 - 4:27PM
Bassett Furniture Industries, Inc. (NASDAQ:BSET), a leading
manufacturer and marketer of home furnishings, today announced the
formation of a new division to expand its motion product
line. The Club Level Motion Division will be led by Bruce
Cohenour, senior vice president of sales and merchandising, and
will focus on expanding the motion product line nationally with its
independent retailers.
“Bassett continues to seek new avenues to pursue
sales growth as we look to the future. We believe that
heightening our commitment to the motion category through our new
Club Level Motion Division will enhance our open market sales
efforts and offers a strategic complement to our HGTV HOME Design
Studios and our Bassett Home Furnishings store program,” said
Robert H. Spilman Jr., chairman and chief executive officer.
The new Club Level program offers
fashion-forward styling, 17 leather options, and quick availability
to retailers. Other features of Club Level include the use of
100% top grain leathers, a 400-pound weight capacity, and limited
lifetime warranty. In addition, the line features powered
headrests, extended footrests, and lay flat motion.
To support the sales effort for this new
division, Bassett will add sales representatives, expand its
showroom space in High Point, N.C., this fall, and showcase the new
line at the upcoming World Market Center in Las Vegas.
“The new Club Level Division enables us to
leverage our well-known Bassett brand name to boost visibility of
these motion products,” said Mr. Cohenour. “For 115 years,
Bassett has grown and evolved in the home furnishings
industry. This new motion line of furniture will allow us to
grow this category with independent furniture retailers and
contribute meaningfully to our business success."
With 91 corporate-owned and licensed stores,
Bassett Furniture Industries, Inc., has leveraged its strong brand
name in furniture into a network of corporate and licensed stores
that focus on providing consumers with a friendly environment for
buying furniture and accessories. The most significant growth
opportunity for Bassett continues to be the Company’s dedicated
retail store program. Bassett’s retail strategy includes affordable
custom-built furniture that can be delivered quickly. The stores
also feature the latest on-trend furniture styles, free in-home
design visits, and coordinated decorating accessories. Bassett also
has a selective and growing wholesale business, with more than 700
accounts on the open market, across the United States and
internationally. For more information, visit the company’s website
at BassettFurniture.com (BSET-G)
J. Michael Daniel, Senior Vice
President and Chief Financial
Officer
(276) 629-6614 - Investors
Jay S. Moore, Director of
Communications
(276) 629-6450 – Media
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